Luxury French watchmaker Bell & Ross will open its first standalone store in Australia in Melbourne's Block Arcade on Collins Street after striking a $100,000 a year leasing deal with wealthy landlord, the Cohen family.
Bell & Ross in conjunction with Swiss watch retailer, 8th Avenue Watch Co, will lease a 34-square-metre shop in the 125-year-old heritage shopping arcade paying net rent understood to be around $3000 per square metre over five years.
They will join luxury watch retailer, Watches of Switzerland, which occupies a shop at the entrance to the Block Arcade while Swiss watchmaker Tag Heuer has committed to Collins Street frontage a few doors up at St Collins lane, the LaSalle Investment Management luxury mall development next to the Novotel hotel at 260 Collins Street.
The Bell & Ross leasing deal was negotiated by Colliers International's Mike Crittenden in conjunction with The Block Arcade managing agent Patrick Barnes of Allard Shelton. Mr Crittenden said there was an emerging "luxury watch precinct" on Collins Street.
Source : http://www.afr.com/real-estate/french-watchmaker-bell--ross-opens-first-australian-store-in-melbournes-block-arcade-20150422-1mqlxl